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The Elephant Boatyard Limited
Registered Number:01159255
For the year ended 31 October 2016
England and Wales
Unaudited Financial Statements
2
For the year ended 31 October 2016
The Elephant Boatyard Limited
Contents Page
1
Statement of Financial Position
2 to 4
Notes to the Financial Statements
3
As at 31 October 2016
The Elephant Boatyard Limited
Statement of Financial Position
Registered Number :
01159255
£
£
2015
2016
Notes
Fixed assets
Property, plant and equipment
494,584
502,481
2
494,584
502,481
Current assets
Inventories
200,285
244,566
Trade and other receivables
88,877
91,321
3
335,887
289,162
Trade and other payables: amounts falling due within one
year
(373,622)
(315,632)
4
(84,460)
20,255
Net current assets
Total assets less current liabilities
514,839
418,021
Trade and other payables: amounts falling due after more
than one year
-
(90,958)
5
423,881
Net assets
418,021
Capital and reserves
Called up share capital
1,000
1,000
Retained earnings
422,881
417,021
423,881
418,021
Shareholders' funds
For the year ended 31 October 2016 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2016 in accordance with Section 476 of the Companies Act 2006
The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Section
394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial
statements, so far as applicable to the company.
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.
The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.
T L C Richardson Director
These financial statements were approved and authorised for issue by the Board on 22 March 2017 and were signed by:
The notes form part of these financial statements
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4
For the year ended 31 October 2016
The Elephant Boatyard Limited
Notes to the Financial Statements
Statutory Information
The Elephant Boatyard Limited is a private limited company, limited by shares, domiciled in England and Wales,
registration number 01159255.
Registered address:
Lands' End Road
Old Bursledon
Southampton
Hampshire
SO31 8DN
The presentation currency is £ sterling.
1. Accounting policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial
Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the
Companies Act 2006. The financial statements have been prepared under the historical costs convention as
modified by the revaluation of certain assets.
Revenue recognition
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Research and development
Research and development expenditure is charged to the profit and loss account in the period in which it is incurred.
Property, plant and equipment
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Land and buildings
2-5% Straight line
Plant and machinery
5-15% Straight line
25% Straight line
Motor vehicles
10% Straight line
Fixtures and fittings
Inventories
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Hire purchase and leasing commitments
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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5
For the year ended 31 October 2016
The Elephant Boatyard Limited
Notes to the Financial Statements Continued
2. Property, plant and equipment
Total
Fixtures and
fittings
Motor vehicles
Plant and
machinery
Land and
buildings
£
£
£
£
£
Cost or
valuation
At 01 November 2015
797,850
1,726
16,673
429,966
349,485
21,706
-
-
6,108
15,598
Additions
At 31 October 2016
436,074
16,673
1,726
819,556
365,083
Provision for depreciation and impairment
At 01 November 2015
295,369
1,726
16,673
131,972
144,998
Charge for year
29,603
-
-
21,009
8,594
At 31 October 2016
324,972
1,726
16,673
152,981
153,592
At 31 October 2016
Net book value
211,491
283,093
-
-
494,584
At 31 October 2015
204,487
297,994
-
-
502,481
3. Trade and other receivables
2015
2016
£
£
Trade debtors
85,212
82,817
Other debtors
6,109
6,060
88,877
91,321
4. Trade and other payables: amounts falling due within one year
2015
2016
£
£
Bank loans and overdraft (secured)
169,967
192,283
Trade creditors
21,134
29,546
Taxation and social security
120,282
147,544
Other creditors
4,249
4,249
315,632
373,622
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6
For the year ended 31 October 2016
The Elephant Boatyard Limited
Notes to the Financial Statements Continued
5. Trade and other payables: amounts falling due after more than one year
2015
2016
£
£
Bank loans and overdraft
90,958
-
Analysis of creditors falling due after more than five years:
Payable by instalments
42,368
-
6. Related party transactions
The controlling parties of the company are members of the Richardson family
4 of 4